Massachusetts Lottery

MALottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Jun 21, 2025 is estimated to be $118 Million, with a cash option of 53.4 Million. If you win the Powerball jackpot, the IRS will withhold 24% of your prize money upfront, and you may owe up to an additional 13% in federal taxes when the tax is due. Additionally, if you are a resident of Massachusetts, your state will take 5% of your lottery winnings.

Please note that the calculation of the Powerball jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Massachusetts Powerball Jackpot/Cash Option for Sat Jun 21, 2025

Draw Date	Jackpot	Cash Option
Sat Jun 21, 2025	$118,000,000	$53,400,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$53,400,000
Federal Tax(24%)	$12,816,000
Additional Federal Tax	$6,902,330
State Tax(5%)	$2,670,000
Net Lumpsum Payment	$31,011,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,776,018	-$617,457 -$88,801	$1,069,760
2	$1,864,872	-$650,333 -$93,244	$1,121,295
3	$1,958,092	-$684,824 -$97,905	$1,175,363
4	$2,056,032	-$721,062 -$102,802	$1,232,168
5	$2,158,810	-$759,090 -$107,941	$1,291,779
6	$2,266,780	-$799,039 -$113,339	$1,354,402
7	$2,380,060	-$840,953 -$119,003	$1,420,104
8	$2,499,122	-$885,006 -$124,956	$1,489,160
9	$2,624,084	-$931,241 -$131,204	$1,561,639
10	$2,755,300	-$979,791 -$137,765	$1,637,744
11	$2,893,006	-$1,030,743 -$144,650	$1,717,613
12	$3,037,674	-$1,084,270 -$151,884	$1,801,520
13	$3,189,540	-$1,140,460 -$159,477	$1,889,603
14	$3,349,076	-$1,199,489 -$167,454	$1,982,133
15	$3,516,518	-$1,261,442 -$175,826	$2,079,250
16	$3,692,338	-$1,326,495 -$184,617	$2,181,226
17	$3,876,890	-$1,394,780 -$193,845	$2,288,265
18	$4,070,764	-$1,466,513 -$203,538	$2,400,713
19	$4,274,314	-$1,541,827 -$213,716	$2,518,771
20	$4,488,012	-$1,620,895 -$224,401	$2,642,716
21	$4,712,448	-$1,703,936 -$235,622	$2,772,890
22	$4,948,094	-$1,791,125 -$247,405	$2,909,564
23	$5,195,422	-$1,882,637 -$259,771	$3,053,014
24	$5,455,258	-$1,978,776 -$272,763	$3,203,719
25	$5,727,956	-$2,079,674 -$286,398	$3,361,884
26	$6,014,460	-$2,185,681 -$300,723	$3,528,056
27	$6,315,124	-$2,296,926 -$315,756	$3,702,442
28	$6,630,892	-$2,413,760 -$331,545	$3,885,587
29	$6,962,472	-$2,536,445 -$348,124	$4,077,903
30	$7,310,572	-$2,665,242 -$365,529	$4,279,801